Business

Alibaba’s [NYSE: BABA] Jack Ma Dump $9.6 Billion Worth Of Stakes In Company

Alibaba Group Holding Limited [NYSE: BABA] co-founder Jack Ma has reduced the shares in the e-commerce giant. Over the past year, Jack Ma has cut its investment to 4.8% from 6.4% and the company’s annual filing disclosed that he has dumped $9.6 billion worth of shares in the firm. The divesture comes after he left …

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Alaska Dump Advanced Micro Devices [NASDAQ: AMD] Stocks. Here’s What It Bought

Alaska department of revenue has increased its holdings in Intel Corp. [NASDAQ: INTC], Berkshire Hathaway [NYSE: BRK-B], and Bank of America Corp.[NYSE: BAC] in the second quarter. Not only it increased its investments in major stocks but also dumped the shares of Advanced Micro Devices Inc. [NASDAQ: AMD]. Department of Revenue has disclosed the trade …

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Microsft’s [NASDAQ: MSFT] LinkedIn Faces Lawsuit For Secretly Reading Apple Users’ Clipboard Content

Microsoft Corp.’s [NASDAQ: MSFT] LinkedIn was sued by New-York based iPhone users for secretly reading and removing users’ sensitive content from Apple Inc. (NASDAQ: AAPL) Universal Clipboard application. The lawsuit was filed in Sans Fransico federal court by Adam Bauer. He said that he daily used the LinkedIn app on his iPhone and iPad. The …

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Gilead Sciences [NASDAQ: GILD] To Start Testing Of Inhalable Version Of Remdesivir For COVID-19

Gilead Sciences, Inc. [NASDAQ: GILD] has started the human testing of the inhaled version of coronavirus drug remdesivir. The company aimed to make the treatment possible which not involve hospitalization. FDA has given an emergency authorization to Gilead Sciences, Inc. for the use of investigational drug remdesivir for the treatment of COVID-19 in May. According …

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Amazon Inc. [NASDAQ: AMZN] Invest $308 Million In Amazon Seller Services

Amazon. com, Inc [NASDAQ: AMZN] announced it has invested $308 million (23.10 billion rupees) in its Indian unit, Amazon Seller Services. Amazon aimed to strengthen the business of Amazon Seller in the time of pandemic when people preferred to shop online. Due to the coronavirus pandemic, the company’s India unit saw a surge in online …

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Allstate Corp. [NYSE: ALL] Scoops Up National General Holdings Corp. For $4 Billion

The Allstate Corp. [NYSE: ALL] has agreed to buy National General Holdings Corp. for about $4 billion in cash or $34.50 per shares. The deal is anticipated to close in early 2021. The acquisition increases personal lines premiums by $4.0 billion and market share by over 1 percentage point to 10%. National General offers a …

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Uber Inc. [NYSE: UBER] Confirms Deal To Buy Postmates Inc. For $2.65 Billion

Uber Technologies Inc. [NYSE: UBER] confirmed its deal to acquire Postmates Inc. on Monday for $2.56 billion in stock. Earlier, the news that Uber has decided to acquire Postmates was circulating on the internet. Today Uber confirmed the news that it has struck deal with Postmates Inc. Like other transportation businesses, the ride hailing business …

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Dominion Inc. [NYSE: D] And Duke [NYSE: DUK] Abandon $8 Billion Atlantic Coast Pipeline Project

Dominion Energy Inc. and Duke Energy Corp. annuounced that they have decided to cancel the $8 billion Atlantic Coast Pipeline project. Both the companies declared that the cost of project initially estimated at $4.5 to $5.0 billion but later its cost increased to $8 billion. Despite a favorable US Supreme Court ruling in June, the …

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Alexion, Inc. [NASDAQ: ALXN] Agrees To Pay $21 Million To Resolve SEC Charges

The Securities and Exchange Commission declared today that pharmaceutical company Alexion Pharmaceutical, Inc. [NASDAQ: ALXN] has accepted that it will pay $21 million to resolve the SEC charges. Alexion has violated the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA). According to charges, two subsidiaries of Alexion Inc. …

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